Oil prices fall to prewar levels on rising Middle East supply
AI Summary
Oil prices have fallen to their prewar levels, attributed to increased supply from the Middle East and stabilized flow through the Strait of Hormuz, confirmed by US Energy Secretary Chris Wright. This signals shifting dynamics in global energy markets.
Flows through the Strait of Hormuz were close to those before the start of the Iran war, says US Energy Secretary Chris Wright.
Politics Markets Commodities Energy Shipping oil prices Middle East Strait of Hormuz energy supply US Energy Secretary market prices oil markets